RBC Global Asset Management Inc. announces March sales results for RBC Funds
and PH&N Funds
TORONTO, April 4, 2013 /CNW/ - RBC Global Asset Management Inc. today
announced March net sales of $882 million. Long-term funds had net sales of
$949 million and money market funds had net redemptions of $68 million. Assets
under management increased by 1.0 per cent.
"At the close of another successful RRSP season, we are pleased to see such
strong levels of sales as we continued to capture a significant portion of
industry long-term mutual fund net sales," said Doug Coulter, president of RBC
Global Asset Management Inc. "With recent trends in global markets, clients
appear to be taking the opportunity to evaluate and rebalance their portfolios
to ensure that their investment goals are being achieved. Notably, our
selection of balanced products including RBC Select Portfolios and the PH&N
Monthly Income Fund saw steady inflows throughout the month of March."
Sales results information is based on preliminary data from the Investment
Funds Institute of Canada (IFIC).
About RBC Global Asset Management and RBC Wealth Management RBC Global Asset
Management (RBC GAM) is the asset management division of Royal Bank of Canada
(RBC), and includes institutional money managers BlueBay Asset Management,
Phillips, Hager & North Investment Management and RBC Global Asset Management
(U.S.). RBC GAM is a provider of global investment management services and
solutions to individual, high-net-worth and institutional investors through
exchange-traded funds, hedge funds, mutual funds, pooled funds, separate
accounts and specialty investment strategies. RBC GAM group of companies
manage more than $280 billion in assets and have approximately 1,000 employees
located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of
the world's top 10 largest wealth managers. RBC Wealth Management directly
serves affluent, high-net-worth and ultra-high-net-worth clients in Canada,
the United States, Latin America, Europe, the Middle East, Africa and Asia
with a full suite of banking, investment, trust and other wealth management
solutions. The business also provides asset management products and services
directly and through RBC and third-party distributors to institutional and
individual clients, through its RBC Global Asset Management business (which
includes BlueBay Asset Management). RBC Wealth Management has more than C$593
billion of assets under administration, more than C$353 billion of assets
under management and approximately 4,300 financial consultants, advisors,
private bankers and trust officers.
Jeff Keay, RBC GAM Communications, 416 955-0577 Leah Commisso, RBC GAM Media
Relations, 416 955-6498
SOURCE: RBC
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CO: RBC Global Asset Management
ST: Ontario
NI: FIN ERN FND FLOWS
-0- Apr/04/2013 13:00 GMT